Who is the buyer (MCC) in the Beverly Anns Cookie Bill of Sale, and what is their role?
Beverly_Anns_Cookie Franchise · 2025 FDDAnswer from 2025 FDD Document
The Parties, intending to be legally bound, agree as follows:
-
- For true and lawful consideration, the sufficiency of which is hereby acknowledged, Franchisee hereby sells, assigns, transfers, conveys and delivers to MCC, its successors and assigns, to have and to hold forever, all of Franchisee'sright, title and interest in and to the Assetsreferenced in the Purchase Agreement.
-
- The sale, assignment, transfer, conveyance and delivery of the Assets under this Bill of Sale is subject to and in accordance with the provisions of the Purchase Agreement and its Attachments and is not intended to and does not expand, limit, alter or modify the rights and obligations of the parties thereunder. In the event of any conflict or inconsistency between the terms of the Purchase Agreement and the terms hereof, the terms of the Purchase Agreement shall govern.
-
- If any provision of this Bill of Sale is held invalid or unenforceable by any court of competent jurisdiction, it is the intent of the Parties that all other provisions of this Bill of Sale be construed to remain fully valid, enforceable, and binding on the parties. This Bill of Sale shall be governed by and construed in accordance with the laws of the State of Kentucky, without giving effect to any conflict of laws principles. This Bill of Sale may be executed in several counterparts, and each executed counterpart shall be considered an original.
-
- This Bill of Sale may be executed in counterparts and by electronic signature, all such counterparts taken together will constitute one and the same agreement.
IN WITNESS WHEREOF, Franchisee and MCC have each signed this Bill of Sale as of the day and year first set forth above.
Source: Item 22 — CONTRACTS (FDD page 57)
What This Means (2025 FDD)
According to the 2025 Beverly Anns Cookie Franchise Disclosure Document, in the Bill of Sale, MCC is the buyer, identified as the recipient of the assets being sold, assigned, transferred, conveyed, and delivered by the franchisee.
The Bill of Sale outlines the agreement where the franchisee transfers all rights, titles, and interests in the assets referenced in the Purchase Agreement to MCC (Mobile Cookie Company, LLC), its successors, and assigns. This transfer is intended to be held by MCC forever, according to the terms outlined in the agreement. The document specifies that the sale and transfer of assets are subject to the provisions of the Purchase Agreement, and in case of any inconsistencies, the Purchase Agreement will take precedence.
The Bill of Sale includes standard legal clauses, such as the severability of provisions, governing law (Kentucky), and the ability to execute the document in counterparts. It confirms that both the franchisee and MCC have signed the Bill of Sale, indicating their agreement to the terms outlined within the document.